 If they do need funds hence the selling in Skin then SOH has some serious explaining to do
From the Palcing in March, just £1.3m!
OptiBiotix Health PLC
25 March 2024
OptiBiotix Health plc
("OptiBiotix" or the "Company")
Placing, Subscription and Director Dealing
OptiBiotix Health plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, cardiovascular disease, diabetes and skincare, announces it has raised in aggregate £1,350,500 through the issue of 6,752,500 new ordinary shares of 2 pence each in the Company ("Fundraise Shares") at a price of 20 pence per share ("Issue Price") (together, the "Fundraise") handled by Peterhouse Capital Limited.
The Fundraise comprises a placing of 6,627,500 new ordinary shares at the Issue Price, raising gross proceeds of £1,325,500 (the "Placing") and a subscription for 125,000 new ordinary shares at the Issue Price, raising gross proceeds of £25,000, by Graham Myers, a director of the Company (the "Subscription").
Following the Subscription, Graham Myers will be interested in 125,000 ordinary shares in the Company, representing 0.13 per cent. of the Company's issued share capital following Admission (as defined below).
The net proceeds of the Fundraise will be utilised to invest in driving sales growth by:-
1. active account management of existing partners by co-investing in publicity, marketing, and promotions to increase sales;
2. increased presence of the Company's stands at major exhibitions to attract new partners, particularly in the USA and India to mitigate dependency on a small number of partners;
3. investing in marketing the Company's products to grow sales on e-commerce platforms in India, China, USA, Europe, and the Gulf States; and
4. launch its second generation SweetBiotix and MicroBiome Modulator products.
The word co-invest was used, so its not for Morepen, hes al;ready raised for sweetbiotox but delivered nothing so those funds must still be here.
So, key question, IF it is OPTI reducing then what the hell for? |
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